Quince Therapeutics, Inc. (NASDAQ:QNCX) Sees Significant Decline in Short Interest

Quince Therapeutics, Inc. (NASDAQ:QNCX) was the target of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 1,790,000 shares, a decrease of 23.8% from the October 31st total of 2,350,000 shares. Currently, 5.5% of the shares of the company are sold short. Based on an average trading volume of 527,400 shares, the short-interest ratio is currently 3.4 days.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on QNCX shares. Maxim Group started coverage on shares of Quince Therapeutics in a research report on Thursday, November 7th. They issued a “buy” rating and a $6.00 price objective for the company. RODMAN&RENSHAW raised Quince Therapeutics to a “strong-buy” rating in a report on Tuesday, October 29th. EF Hutton Acquisition Co. I raised Quince Therapeutics to a “strong-buy” rating in a report on Tuesday, October 22nd. Finally, Rodman & Renshaw assumed coverage on Quince Therapeutics in a research report on Tuesday, October 29th. They issued a “buy” rating and a $11.00 price objective for the company.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Quince Therapeutics stock. Geode Capital Management LLC lifted its holdings in Quince Therapeutics, Inc. (NASDAQ:QNCX) by 24.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 339,125 shares of the company’s stock after buying an additional 66,170 shares during the quarter. Geode Capital Management LLC owned 0.78% of Quince Therapeutics worth $263,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Quince Therapeutics Stock Up 0.5 %

Quince Therapeutics stock traded up $0.01 during midday trading on Friday, reaching $2.05. The company’s stock had a trading volume of 58,641 shares, compared to its average volume of 368,453. The business has a 50-day simple moving average of $1.25 and a 200-day simple moving average of $0.92. The company has a market cap of $90.20 million, a P/E ratio of -1.65 and a beta of 0.71. Quince Therapeutics has a fifty-two week low of $0.51 and a fifty-two week high of $2.45. The company has a quick ratio of 9.53, a current ratio of 9.53 and a debt-to-equity ratio of 0.33.

About Quince Therapeutics

Quince Therapeutics, Inc, a biopharmaceutical company, focuses on acquiring, developing, and commercializing therapeutics for patients with debilitating and rare diseases. The company's lead asset candidature comprises EryDex for the treatment of rare pediatric neurodegenerative disease, including A-T, an inherited autosomal recessive neurodegenerative and immunodeficiency disorder caused by mutations in ATM gene.